ADSK possible bounce from strong support
Enter - $49.40 (current price)
Target - $54 (Closest Resistance)
Stop Loss - $48
Reasons -->
Its trading at a very strong support line.
Has completed the post H&S decline.
Is extremely oversold. (RSI = ~23)
Has a Zacks rank #1 (Strong buy)
Its earnings estimate has been upgraded from 0.06/share to 0.14/share within the last 2 months.
I am a very new trader (<1 year options experience) and would greatly appreciate any comments/thoughts about this trade.
ADSK
Target - $54 (Closest Resistance)
Stop Loss - $48
Reasons -->
Its trading at a very strong support line.
Has completed the post H&S decline.
Is extremely oversold. (RSI = ~23)
Has a Zacks rank #1 (Strong buy)
Its earnings estimate has been upgraded from 0.06/share to 0.14/share within the last 2 months.
I am a very new trader (<1 year options experience) and would greatly appreciate any comments/thoughts about this trade.
ADSK
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